v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities            
Net (loss) income $ (4,022) $ 9,455 $ (11,184) $ 16,911 $ 30,958 $ 23,412
Adjustments to reconcile net (loss) income to net cash provided by operating activities:            
Depreciation and amortization     21,281 11,723    
Provision for doubtful accounts     237 94    
Stock-based compensation expense     24,553 23,355    
Deferred taxes     79 0    
Amortization of debt issuance costs     784 797    
Loss on foreign currency exchange rates     1,594 1,241    
Loss (gain) on contingent consideration     1,618 (1,347)    
Deferred consideration expense     7,530 0    
Gain on lease modification     (441) 0    
Other non-cash expenses     521 84    
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:            
Accounts receivable     (2,838) 1,892    
Income tax receivable     (231) (4,383)    
Recoverable taxes     16,713 (6,678)    
Current contract assets     (3,193) (11,457)    
Operating lease right-of-use assets, net     (163) 105    
Prepaid expenses and other assets     (4,446) (3,176)    
Accounts payable     653 819    
Accrued liabilities and other     (5,679) (3,493)    
Income taxes payable     (441) 9,165    
Deferred revenue     (3,641) (2,082)    
Other long-term assets     424 (1,631)    
Other long-term liabilities     134 (477)    
Net cash provided by operating activities     43,864 31,462    
Cash flows from investing activities            
Purchases of property and equipment     (7,076) (6,680)    
Purchases of intangible assets     (5,797) (3,592)    
Return of deposits in escrow     299 0    
Net cash used in investing activities     (12,574) (10,272)    
Cash flows from financing activities            
Payments of tax withholding obligations related to restricted stock units     (9,770) (15,339)    
Exercise of stock options     2 8    
Proceeds from issuance of common stock under employee stock purchase plan     1,296 1,200    
Repurchase of common stock     (10,000) 0    
Deferred acquisition payments (5,400)   (5,358) (1,000)    
Repayments of borrowings from Credit Agreement     (1,750) (1,750)    
Net cash used in financing activities     (25,580) (16,881)    
Effect of exchange rate changes on cash and cash equivalents     2,968 152    
Net increase in cash and cash equivalents     8,678 4,461    
Cash and cash equivalents            
Beginning of period     85,196 153,048 153,048  
End of period $ 93,874 $ 157,509 93,874 157,509 $ 85,196 $ 153,048
Supplemental disclosure of cash flow information:            
Cash paid for interest     12,706 14,562    
Cash paid for income taxes     5,897 6,015    
Supplemental disclosure of non-cash activities:            
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses     491 154    
Right-of-use assets obtained in exchange for operating lease liabilities     $ 5,580 $ 0